UK June flash services PMI 51.3 vs 51.3 expected ...Middle East

Prior 50.9Manufacturing PMI 47.7 vs 46.6 expectedPrior 46.4Composite PMI 50.7 vs 50.5 expectedPrior 50.3

Output growth picks up in June.Prices charged inflation eases to its lowest for nearly four and a half years.

The agency notes that despite a pick up, economi activity remains lacklustre. Companies continue to cut employment but all these things combined contributed to quell inflationary pressures, especially in the services sector. The agency suggests that the BoE is in good position to cut interest rates in August.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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